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Category > Economics Posted 03 May 2017 My Price 4.00

Ralph owns a small pizza restaurant

Ralph owns a small pizza restaurant, where he works full-time in the kitchen. His total revenue last year was $100,000, and his rent was $3,000 per month. He pays his one employee $2,000 per month, and the cost of ingredients and overhead averages $500 per month. Ralph could earn $35,000 per year as the manager of a competing pizza restaurant nearby. His total implicit costs for the year were:

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SuperTutor
(15)
Status NEW Posted 03 May 2017 03:05 AM My Price 4.00

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